Delivery Hero has to make room
Beiersdorf returns to the DAX
06/03/2022 11:37 p.m
A good year after being dropped from the DAX, Beiersdorf is making a comeback in the first German stock exchange league. In return for Nivea provider Beiersdorf, a food supplier slips out of the DAX. A financial institution hopes in vain for the resurgence in the leading German index.
The consumer goods group Beiersdorf is returning to the leading German index DAX. This is announced by Deutsche Börse. In return, the food delivery service Delivery Hero will be removed from the leading index. He is included in the MDAX of medium-sized companies instead of Beiersdorf. At the same time, Commerzbank narrowly missed being promoted again.
The changes will be implemented on June 20, as Deutsche Börse further reports. It regularly reviews the composition of the DAX. In addition to general standards, the criterion for promotion and relegation is the market capitalization of the free float. The basis for this is the last trade-weighted average price of the month preceding the review date. In the MDax small-cap index, the green electricity provider Encavis replaced the financial service provider Hypoport.
There have been many discussions about Delivery Hero since the company was included in the Dax, as analyst Konstantin Oldenburger from CMC Markets explains: “Delivery Hero has been making losses for years and basically does not operate any business or services in Germany itself.”
When the Dax was adjusted in March, Daimler Truck and Hannover Re were included in the first stock exchange league – Siemens Energy and the Nivea manufacturer Beiersdorf had to give way again at the time. The DAX was expanded from 30 to 40 stocks in September 2021.